Bankruptcy filings up 8.4% in Rochester region

Rochester-area bankruptcy filings were up for a second month in a row in July, showing an 8.4 percent increase over filings a year ago.

Area filings in June had their first increase in more than a year, showing a 4.5 percent jump over June 2012.

In July, 193 petitioners opened bankruptcy cases in the federal courts’ Western District of New York’s nine-county Rochester division. That compares with 178 cases filed in the region in July 2012.

The Rochester area’s July filings included 135 Chapter 7 petitions, 56 Chapter 13s, one Chapter 11 and one Chapter 12.

The courts’ Rochester division covers the counties of Monroe, Livingston, Ontario and Wayne along with Chemung, Schuyler, Seneca Steuben and Yates.

Chapter 7 filers seek permission to liquidate assets to create a fund out of which creditors can be paid amounts ranging from zero to 100 percent of what they are owed. Chapter 13 filers hold on to assets and make plans to pay part of all of what they are owed within five years. Chapter 11 filers seek to reorganize businesses or personal affairs under court protection, paying creditors part or all of what they are owed. Chapter 12 is special provision similar to Chapter 13 but tailored to farmers and fishermen.